# John Armitage — Egerton Capital

Portfolio USD 10,351,358,000 · 23 positions · 2026 Q2 · history from 2019 Q1.
Source: quarterly 13F filings via dataroma.com. Page: https://gigainvestors.com/EC

## Positions (2026 Q2)

| Ticker | Company | % of portfolio | Value | This quarter | Holders |
|---|---|---:|---:|---|---:|
| V | Visa Inc. | 14% | USD 1,463,159,000 | +3.74% |  |
| GOOG | Alphabet Inc. CL C | 11% | USD 1,163,019,000 | -4.86% |  |
| APH | Amphenol Corp. | 8.3% | USD 858,094,000 | +69.49% |  |
| AMZN | Amazon.com Inc. | 8.2% | USD 851,686,000 | +51.2% |  |
| MCO | Moody's Corp. | 7.5% | USD 771,879,000 | +10.26% |  |
| NVDA | NVIDIA Corp. | 6.6% | USD 683,898,000 | +27.77% |  |
| MDLN | Medline Inc Cl A | 6.3% | USD 649,612,000 | +277.27% |  |
| VMC | Vulcan Materials | 5.6% | USD 581,669,000 | +11.44% |  |
| CRH | CRH plc | 4.5% | USD 469,074,000 | +58.87% |  |
| AMAT | Applied Materials | 3.6% | USD 376,730,000 | new |  |
| IBKR | Interactive Brokers Group Inc. | 3.5% | USD 359,424,000 | -34.19% |  |
| DVN | Devon Energy Corp. | 3.0% | USD 312,299,000 | +15.83% |  |
| FERG | Ferguson Enterprises Inc. | 2.3% | USD 238,760,000 | +58.61% |  |
| EFX | Equifax Inc. | 2.3% | USD 235,094,000 | new |  |
| EMBJ | Embraer SA | 2.1% | USD 215,921,000 | +13.75% |  |
| MA | Mastercard Inc. | 1.8% | USD 186,688,000 | -20.92% |  |
| LAMR | Lamar Advertising Co. | 1.6% | USD 170,115,000 | +0.17% |  |
| UBER | Uber Technologies Inc. | 1.6% | USD 167,386,000 | -50.14% |  |
| LIN | Linde plc | 1.5% | USD 156,125,000 | -71.84% |  |
| AWI | Armstrong World Industries Inc. | 1.4% | USD 148,452,000 | +106.54% |  |
| SPGI | S&P Global Inc. | 1.4% | USD 143,323,000 | new |  |
| VST | Vistra Corp. | 0.7% | USD 76,976,000 | new |  |
| RIOT | Riot Blockchain Inc. | 0.7% | USD 71,975,000 | new |  |

## Moves this quarter (29)

- V Visa Inc.: +3.74% (USD 1,463,159,000)
- GOOG Alphabet Inc. CL C: -4.86% (USD 1,163,019,000)
- APH Amphenol Corp.: +69.49% (USD 858,094,000)
- AMZN Amazon.com Inc.: +51.2% (USD 851,686,000)
- MCO Moody's Corp.: +10.26% (USD 771,879,000)
- NVDA NVIDIA Corp.: +27.77% (USD 683,898,000)
- MDLN Medline Inc Cl A: +277.27% (USD 649,612,000)
- VMC Vulcan Materials: +11.44% (USD 581,669,000)
- CRS Carpenter Technology: sold (USD 524,582,118)
- CRH CRH plc: +58.87% (USD 469,074,000)
- AMAT Applied Materials: new (USD 376,730,000)
- IBKR Interactive Brokers Group Inc.: -34.19% (USD 359,424,000)
- CME CME Group: sold (USD 349,371,582)
- DVN Devon Energy Corp.: +15.83% (USD 312,299,000)
- CNQ Canadian Natural Resources: sold (USD 277,056,374)
- FERG Ferguson Enterprises Inc.: +58.61% (USD 238,760,000)
- EFX Equifax Inc.: new (USD 235,094,000)
- EMBJ Embraer SA: +13.75% (USD 215,921,000)
- MA Mastercard Inc.: -20.92% (USD 186,688,000)
- LAMR Lamar Advertising Co.: +0.17% (USD 170,115,000)
- UBER Uber Technologies Inc.: -50.14% (USD 167,386,000)
- LIN Linde plc: -71.84% (USD 156,125,000)
- AWI Armstrong World Industries Inc.: +106.54% (USD 148,452,000)
- SPGI S&P Global Inc.: new (USD 143,323,000)
- ACGL Arch Capital Group Ltd.: sold (USD 107,213,343)
- RNR RenaissanceRe Holdings Ltd.: sold (USD 94,313,457)
- NYT New York Times CL A: sold (USD 81,375,847)
- VST Vistra Corp.: new (USD 76,976,000)
- RIOT Riot Blockchain Inc.: new (USD 71,975,000)

## Portfolio value by quarter

- 2019 Q1: USD 14,155,759,557 (26 positions)
- 2019 Q2: USD 13,657,563,058 (31 positions)
- 2019 Q3: USD 13,959,051,221 (33 positions)
- 2019 Q4: USD 13,965,545,814 (33 positions)
- 2020 Q1: USD 9,675,878,090 (26 positions)
- 2020 Q2: USD 13,457,393,709 (28 positions)
- 2020 Q3: USD 16,188,790,984 (35 positions)
- 2020 Q4: USD 17,664,916,937 (34 positions)
- 2021 Q1: USD 18,986,063,057 (35 positions)
- 2021 Q2: USD 20,110,044,064 (31 positions)
- 2021 Q3: USD 21,038,710,850 (34 positions)
- 2021 Q4: USD 21,445,857,502 (32 positions)
- 2022 Q1: USD 18,976,127,403 (29 positions)
- 2022 Q2: USD 14,813,694,256 (26 positions)
- 2022 Q3: USD 12,878,578,584 (23 positions)
- 2022 Q4: USD 11,621,142,335 (21 positions)
- 2023 Q1: USD 9,263,770,290 (25 positions)
- 2023 Q2: USD 9,697,583,169 (23 positions)
- 2023 Q3: USD 8,615,391,910 (22 positions)
- 2023 Q4: USD 9,230,286,750 (22 positions)
- 2024 Q1: USD 10,348,622,634 (22 positions)
- 2024 Q2: USD 9,904,954,587 (26 positions)
- 2024 Q3: USD 9,913,518,828 (30 positions)
- 2024 Q4: USD 8,647,686,223 (30 positions)
- 2025 Q1: USD 8,668,482,842 (27 positions)
- 2025 Q2: USD 9,748,329,279 (25 positions)
- 2025 Q3: USD 9,481,830,269 (24 positions)
- 2025 Q4: USD 9,202,272,474 (23 positions)
- 2026 Q1: USD 9,011,098,572 (24 positions)
- 2026 Q2: USD 10,351,358,000 (23 positions)